Canvas Wealth Advisors LLC Raises Holdings in First Solar, Inc. $FSLR

Canvas Wealth Advisors LLC lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 20.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,625 shares of the solar cell manufacturer’s stock after purchasing an additional 444 shares during the period. Canvas Wealth Advisors LLC’s holdings in First Solar were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. TD Private Client Wealth LLC raised its stake in shares of First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after buying an additional 85 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of First Solar during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of First Solar during the 1st quarter worth approximately $25,000. Finally, First Pacific Financial purchased a new position in shares of First Solar during the 2nd quarter worth approximately $41,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $231.85 on Monday. The business’s fifty day moving average price is $210.88 and its two-hundred day moving average price is $175.58. The stock has a market cap of $24.87 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.44 and a beta of 1.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar, Inc. has a one year low of $116.56 and a one year high of $248.04.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.First Solar’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 EPS. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FSLR. BMO Capital Markets increased their target price on First Solar from $194.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Citigroup upped their price target on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Morgan Stanley upped their price target on First Solar from $215.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of First Solar in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price target on First Solar from $188.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $240.56.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 2,321 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total value of $462,900.24. Following the transaction, the chief executive officer directly owned 81,861 shares of the company’s stock, valued at approximately $16,326,357.84. This trade represents a 2.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by insiders.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.